Seven's Ryan Stokes welcomes chance for Packer China partnership

Tom Cowie

Seven Group Holdings chief operating officer Ryan Stokes, the son of Australian billionaire Kerry Stokes, says he and his father would "love" to do business deals with James Packer in China and elsewhere.

Speaking at a Australia and China conference in Melbourne, Mr Stokes responded to comments by the Crown Resorts chairman that he was interested in working with the Seven Group Holdings executive chairman.

Ryan Stokes says his father Kerry (right) would love to be in an Asian-focussed partnership venture with James Packer (left). Photo: Alex Ellinghausen / Fairfax

The two are close friends and recently travelled to China together as part of Tony Abbott's business delegation, which Ryan Stokes also took part in.

"He has an incredibly eye to pick investments, he was done exceptionally well," said Mr Stokes.

"To be able to do that, we would be excited about it. And it's also good fun. He and Kerry have a very close relationship. That opportunity we would love."

Mr Stokes did not specify whether the media sector represented the chance for a partnership with Mr Packer, who said at the conference he was keen to expand his film production business Ratpac to China.

Advertisement

Seven Group Holdings operates the Seven television network in Australia, while the Stokes family has private has media interests in China, including content distribution, production and publishing ventures.

However Mr Stokes said he was keen on looking at a "diverse set" of opportunities for investments with Mr Packer:

"I don't think that would be limited to China," he said.

Seven Group Holdings currently operates the WesTrac operation in China, which sells Caterpillar vehicles used in the construction, mining and power generation industries.

Mr Stokes said Seven's strong presence in China could be traced back to the company's involvement in helping Beijing win the right to host the 2008 Olympics.

"We are pleased to find that dividends can flow from investing in Chinese friendship," he said.

On the question of continuing growth in China, Mr Stokes said Australians needed to foster closer ties with China in order to be able to continue its economic prosperity.

He said the rise of the middle class in China would be a 21st century powerhouse.

"Our region stands to benefit," he said.

"These transitional challenges and reforms are positive for China and represent opportunities for Australia."